Sanctuary is pleased to share its financial results for 2023/2024.
The 12 months have seen the Group successfully navigate through recent macro-economic challenges and achieve a sound financial performance, while delivering record levels of reinvestment in homes for the second consecutive year for the benefit of customers.
Image
Homes in management up 4.2% to 125,094
Image
Group revenue up 15% to £1,085.4m
Image
Operating surplus up 4.8% to £215.2m
Image
Operating margin of 19.8% (2023: 21.8% restated)
Image
Underlying operating margin* of 19.0% (2023: 20.6% restated)
Image
Social housing operating surplus margin* of 31.1% (2023: 33.1%)
Image
Surplus before tax up 153.1% to £207.0m
Image
Underlying surplus* down 34.3% to £41.2m
“We are pleased with our financial results for the year and the Group remains in robust financial health. We have delivered record investment in our customers’ homes, despite the financial pressures, and have successfully undertaken the rescue of a financially troubled peer for the benefit of residents and their homes, as well as the wider social housing sector.”
